Exercise 9-1 (Algo) Prepare a Flexible Budget [LO9-1] Puget Sound Divers is a company that provides diving services such as underwater ship repairs to clients in the Puget Sound area. The company's planning budget for May appears below: Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (q) 300 Revenue ($470.00g) Expenses: Wages and salaries (511,400 +$128.00q) Supplies ($4.00g) Equipment rental ($2,300 +$22.00g) Insurance ($3,800) Miscellaneous ($550 $1.48q) Total expense Net operating income $ 141,000 49,800 1,200 8,900 3,800 994 64,694 $ 76,306 During May, the company's actual activity was 290 diving-hours. Required: Prepare a flexible budget for May. (Round your answers to the nearest whole number.) Revenue Puget Sound Divers Flexible Budget For the Month Ended May 31 Expenses: Wages and salaries Supplies Equipment rental